Many readers may not agree and even experts might have their reservations about them, but the new online Ulips are very different from the pre-2010 policies. The new Ulips have very low costs, which leaves a lot on the table for the buyer. According to Morningstar, aggressive Ulip plans have earned almost 12% annualised re turns in the past five years.
However, keep in mind that these numbers only indicate the rise in the NAV. Some Ulip charges are levied by cancelling units, so the actual returns for the investor are likely to be lower. Even so, the ease of online access has made these plans attractive and use friendly.
What's more, being insurance policies, the income from these plans is tax free under Section 10(10D). So, if you switch your corpus from debt to equity and then back to debt, the gains will not be taxed. You can also park short-term money in the liquid fund of your Ulip using the top-up facility.
Despite these advantages, Ulips continue to be in the doghouse. It is time for investors to assess these plans afresh, without being influenced by the chequered history of the category.
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